Management accounting for decision makers / / Peter Atrill and Eddie McLaney

• Autore: Atrill Peter
• Pubblicazione: Harlow, England : , : Pearson, , 2015
• Edizione: Eight edition.
• Descrizione fisica: 1 online resource : illustrations
• Disciplina: 658.15/11
• Soggetto topico: Managerial accounting; Decision making
• Persona (resp. second.): McLaneyE. J.
• Note generali: Bibliographic Level Mode of Issuance: Monograph
• Nota di bibliografia: Includes bibliographical references and index.
• Nota di contenuto: Cover -- Contents -- Preface -- How to use this book -- Acknowledgments -- 1 INTRODUCTION TO MANAGEMENT ACCOUNTING -- INTRODUCTION -- Learning outcomes -- WHAT IS THE PURPOSE OF A BUSINESS? -- HOW ARE BUSINESSES ORGANISED? -- HOW ARE BUSINESSES MANAGED? -- 1 Establish mission, vision and objectives -- 2 Undertake a position analysis -- 3 Identify and assess the strategic options -- 4 Select strategic options and formulate plans -- 5 Perform, review and control -- THE CHANGING BUSINESS LANDSCAPE -- WHAT IS THE FINANCIAL OBJECTIVE OF A BUSINESS? -- BALANCING RISK AND RETURN -- WHAT IS MANAGEMENT ACCOUNTING? -- HOW USEFUL IS MANAGEMENT ACCOUNTING INFORMATION? -- PROVIDING A SERVICE -- Further qualities -- WEIGHING UP THE COSTS AND BENEFITS -- MANAGEMENT ACCOUNTING AS AN INFORMATION SYSTEM -- IT'S JUST A PHASE -- WHAT INFORMATION DO MANAGERS NEED? -- REPORTING NON-FINANCIAL INFORMATION -- INFLUENCING MANAGERS' BEHAVIOUR -- REAPING THE BENEFITS OF INFORMATION TECHNOLOGY -- FROM BEAN COUNTER TO TEAM MEMBER -- REASONS TO BE ETHICAL -- MANAGEMENT ACCOUNTING AND FINANCIAL ACCOUNTING -- NOT-FOR-PROFIT ORGANISATIONS -- SUMMARY -- KEY TERMS -- REFERENCES -- FURTHER READING -- REVIEW QUESTIONS -- EXERCISES -- 2 RELEVANT COSTS AND BENEFITS FOR DECISION MAKING -- INTRODUCTION -- Learning outcomes -- COST-BENEFIT ANALYSIS -- WHAT IS MEANT BY 'COST'? -- RELEVANT COSTS: OPPORTUNITY AND OUTLAY COSTS -- SUNK COSTS AND COMMITTED COSTS -- NON-MEASURABLE COSTS AND BENEFITS -- Self-assessment question 2.1 -- SUMMARY -- KEY TERMS -- FURTHER READING -- REVIEW QUESTIONS -- EXERCISES -- 3 COST-VOLUME-PROFIT ANALYSIS -- INTRODUCTION -- Learning outcomes -- COST BEHAVIOUR -- FIXED COST -- VARIABLE COST -- SEMI-FIXED (SEMI-VARIABLE) COST -- Analysing semi-fixed (semi-variable) costs -- FINDING THE BREAK-EVEN POINT -- CONTRIBUTION -- Contribution margin ratio. ; MARGIN OF SAFETY -- ACHIEVING A TARGET PROFIT -- OPERATING GEARING AND ITS EFFECT ON PROFIT -- PROFIT-VOLUME CHARTS -- THE ECONOMIST'S VIEW OF THE BREAK-EVEN CHART -- FAILING TO BREAK EVEN -- WEAKNESSES OF BREAK-EVEN ANALYSIS -- USING CONTRIBUTION TO MAKE DECISIONS: MARGINAL ANALYSIS -- Pricing/assessing opportunities to enter contracts -- The most efficient use of scarce resources -- Make-or-buy decisions -- Closing or continuation decisions -- Self-assessment question 3.1 -- SUMMARY -- KEY TERMS -- FURTHER READING -- REVIEW QUESTIONS -- EXERCISES -- 4 FULL COSTING -- INTRODUCTION -- Learning outcomes -- WHAT IS FULL COSTING? -- WHY DO MANAGERS WANT TO KNOW THE FULL COST? -- SINGLE-PRODUCT BUSINESSES -- Process-costing problems -- MULTI-PRODUCT BUSINESSES -- Direct and indirect cost -- Job costing -- Full (absorption) costing and the behaviour of cost -- The problem of indirect cost -- OVERHEADS AS SERVICE RENDERERS -- Job costing: a worked example -- Selecting a basis for charging overheads -- Segmenting the overheads -- Dealing with overheads on a cost centre basis -- Batch costing -- Non-manufacturing overheads -- Full (absorption) costing and estimation errors -- Full (absorption) costing and relevant costs -- FULL (ABSORPTION) COSTING VERSUS VARIABLE COSTING -- Which method is better? -- Self-assessment question 4.1 -- SUMMARY -- KEY TERMS -- REFERENCE -- FURTHER READING -- REVIEW QUESTIONS -- EXERCISES -- 5 COSTING AND COST MANAGEMENT IN A COMPETITIVE ENVIRONMENT -- INTRODUCTION -- Learning outcomes -- COST DETERMINATION IN THE CHANGED BUSINESS ENVIRONMENT -- Costing and pricing: the traditional way -- Costing and pricing: the new environment -- COST MANAGEMENT SYSTEMS -- The problem of overheads -- Taking a closer look -- ACTIVITY-BASED COSTING -- Attributing overheads -- Benefits of ABC -- ABC versus the traditional approach. ; ABC and service industries -- Criticisms of ABC -- ABC in practice -- MANAGING COSTS OVER THE PRODUCT LIFE CYCLE -- Total life-cycle costing -- Target costing -- Kaizen costing -- OTHER APPROACHES TO MANAGING COSTS IN THE MODERN ENVIRONMENT -- Value chain analysis -- Benchmarking -- Total quality management -- Managing quality costs -- An alternative view -- Self-assessment question 5.1 -- SUMMARY -- KEY TERMS -- REFERENCES -- FURTHER READING -- REVIEW QUESTIONS -- EXERCISES -- 6 BUDGETING -- INTRODUCTION -- Learning outcomes -- HOW BUDGETS LINK WITH STRATEGIC PLANS AND OBJECTIVES -- Exercising control -- TIME HORIZON OF PLANS AND BUDGETS -- LIMITING FACTORS -- BUDGETS AND FORECASTS -- PERIODIC AND CONTINUAL BUDGETS -- HOW BUDGETS LINK TO ONE ANOTHER -- HOW BUDGETS HELP MANAGERS -- THE BUDGET-SETTING PROCESS -- Step 1: Establish who will take responsibility -- Step 2: Communicate budget guidelines to relevant managers -- Step 3: Identify the key, or limiting, factor -- Step 4: Prepare the budget for the area of the limiting factor -- Step 5: Prepare draft budgets for all other areas -- Step 6: Review and co-ordinate budgets -- Step 7: Prepare the master budgets -- Step 8: Communicate the budgets to all interested parties -- Step 9: Monitor performance relative to the budget -- USING BUDGETS IN PRACTICE -- INCREMENTAL AND ZERO-BASE BUDGETING -- PREPARING BUDGETS -- The cash budget -- Preparing other budgets -- ACTIVITY-BASED BUDGETING -- NON-FINANCIAL MEASURES IN BUDGETING -- BUDGETS AND MANAGEMENT BEHAVIOUR -- WHO NEEDS BUDGETS? -- BEYOND CONVENTIONAL BUDGETING -- LONG LIVE BUDGETS! -- Self-assessment question 6.1 -- SUMMARY -- KEY TERMS -- REFERENCES -- FURTHER READING -- REVIEW QUESTIONS -- EXERCISES -- 7 ACCOUNTING FOR CONTROL -- INTRODUCTION -- Learning outcomes -- BUDGETING FOR CONTROL -- TYPES OF CONTROL -- VARIANCES FROM BUDGET. ; Flexing the budget -- Sales volume variance -- Sales price variance -- Materials variances -- Labour variances -- Fixed overhead variance -- RECONCILING THE BUDGETED PROFIT WITH THE ACTUAL PROFIT -- REASONS FOR ADVERSE VARIANCES -- VARIANCE ANALYSIS IN SERVICE INDUSTRIES -- NON-OPERATING-PROFIT VARIANCES -- INVESTIGATING VARIANCES -- VARIANCE ANALYSIS IN PRACTICE -- COMPENSATING VARIANCES -- MAKING BUDGETARY CONTROL EFFECTIVE -- BEHAVIOURAL ISSUES -- The impact of management style -- Failing to meet the budget -- Budgets and innovation -- STANDARD QUANTITIES AND COSTS -- SETTING STANDARDS -- Who sets the standards? -- How is information gathered? -- What kind of standards should be used? -- THE LEARNING-CURVE EFFECT -- OTHER USES FOR STANDARD COSTING -- SOME PROBLEMS . . . -- THE NEW BUSINESS ENVIRONMENT -- Self-assessment question 7.1 -- SUMMARY -- KEY TERMS -- REFERENCE -- FURTHER READING -- REVIEW QUESTIONS -- EXERCISES -- 8 MAKING CAPITAL INVESTMENT DECISIONS -- INTRODUCTION -- Learning outcomes -- THE NATURE OF INVESTMENT DECISIONS -- INVESTMENT APPRAISAL METHODS -- ACCOUNTING RATE OF RETURN (ARR) -- ARR and ROCE -- Problems with ARR -- PAYBACK PERIOD (PP) -- Problems with PP -- NET PRESENT VALUE (NPV) -- Interest lost -- Risk -- Inflation -- What will logical investors do? -- Using present value tables -- The discount rate and the cost of capital -- WHY NPV IS BETTER -- NPV's wider application -- INTERNAL RATE OF RETURN (IRR) -- Problems with IRR -- SOME PRACTICAL POINTS -- INVESTMENT APPRAISAL IN PRACTICE -- INVESTMENT APPRAISAL AND STRATEGIC PLANNING -- DEALING WITH RISK -- Assessing the level of risk -- Reacting to the level of risk -- MANAGING INVESTMENT PROJECTS -- Stage 1: Determine investment funds available -- Stage 2: Identify profitable project opportunities -- Stage 3: Evaluate the proposed project -- Stage 4: Approve the project. ; Stage 5: Monitor and control the project -- Self-assessment question 8.1 -- SUMMARY -- KEY TERMS -- REFERENCE -- FURTHER READING -- REVIEW QUESTIONS -- EXERCISES -- 9 PERFORMANCE EVALUATION AND PRICING IN A COMPETITIVE ENVIRONMENT -- INTRODUCTION -- Learning outcomes -- WHAT IS STRATEGIC MANAGEMENT ACCOUNTING? -- FACING OUTWARDS -- Competitor analysis -- Customer profitability analysis -- COMPETITIVE ADVANTAGE THROUGH COST LEADERSHIP -- NON-FINANCIAL MEASURES OF PERFORMANCE -- The balanced scorecard -- Scorecard problems -- MEASURING SHAREHOLDER VALUE -- The quest for shareholder value -- How can shareholder value be created? -- The need for new measures -- Economic value added (EVA ® ) -- JUST ANOTHER FAD? -- PRICING -- Economic theory -- Some practical considerations -- Full-cost (cost-plus) pricing -- Pricing on the basis of marginal cost -- Target pricing -- Pricing strategies -- Self-assessment question 9.1 -- SUMMARY -- KEY TERMS -- REFERENCES -- FURTHER READING -- REVIEW QUESTIONS -- EXERCISES -- 10 MEASURING DIVISIONAL PERFORMANCE -- INTRODUCTION -- Learning outcomes -- DIVISIONALISATION -- Why do businesses divisionalise? -- Types of responsibility centres -- Divisional structures -- Is divisionalisation a good idea? -- MEASURING DIVISIONAL PROFIT -- Contribution -- Controllable profit -- Divisional profit before common expenses -- Divisional profit for the period -- DIVISIONAL PERFORMANCE MEASURES -- Return on investment (ROI) -- Residual income (RI) -- Looking to the longer term -- Comparing performance -- EVA ® REVISITED -- TRANSFER PRICING -- The objectives of transfer pricing -- Transfer pricing and tax mitigation -- Transfer pricing policies -- Market prices -- Variable cost -- Full cost -- Negotiated prices -- Divisions with mixed sales -- Differential transfer prices -- Transfer pricing and service industries. ; NON-FINANCIAL MEASURES OF PERFORMANCE.
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• Titolo autorizzato: Management accounting for decision makers
• ISBN: 9781292072463 (pdf); 9781292072517 (eText); 1292072466; 9781292072432 (paperback); 1292072431; 1336034203
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910154780203321
• Lo trovi qui: Univ. Federico II
• Serie: Always learning.